7 Mar 2018
STEPHEN MARR MANAGEMENT LIMITED v BOUTIQUE HAIR & BEAUTY LIMITED (In Receivership & In Liquidation) [2018] NZHC 341
- Citation
- [2018] NZHC 341
- Court
- High Court
The Court held that Mrs Hibbs possessed and validly exercised a power of attorney on behalf of CGCL when appointing Smart and Brown as liquidators; the freezing order applied to Mr Hibbs' shares in CGCL but did not prohibit the attorney's act or extend to render CGCL's appointment of liquidators a breach; there was no evidence that the CGCL shareholding in BHBL had any value that was diminished by the liquidation; Smart and Brown took legal advice, acted in good faith and there was no evidence of lack of independence, therefore the appointment was valid and confirmed under s 284(1)(g).